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Institute bans Bournemouth accountant

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12th Mar 2014
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The ICAEW has excluded an accountant from Bournemouth and ordered him to pay fines of £5,000 following complaints including practising without a certificate or professional indemnity insurance (PII).

In addition, Edward Jenkins issued a total of 51 audit reports between 2003 and 2011 when his firm, Edward H J Jenkins FCA, Chartered Accountants, was not a registered auditor.

The tribunal noted how between 22 July 2003 and 5 April 2008 Jenkins issued 26 audit reports when his firm was not a registered auditor, contrary to Section 28 of the Companies Act 1989 and between 6 April 2008 and 29 October 2011 the accountant issued 25 audit reports contrary to Section 1213 of the Companies Act 2006. 

Included in March's ICAEW's disciplinary orders, the tribunal said that Jenkins had had his practising certificate cancelled in 2000, due to a "serious disciplinary finding" against him.

The Institute was then alerted to the fact he was practising without a certificate after it was sent a letter from a solicitors firm, claiming they had correspondence from him saying he was doing so.

When the ICAEW wrote to him, he admitted he had been practising with no certificate or PII, and disclosed he also signed audit reports when not a registered auditor, which the Institute confirmed with a Companies House search. He said he had been "desperate for any form of work in 2003" by way of explanation.

Jenkins resigned from the ICAEW in December 2011. At the tribunal, he explained how he had suffered serious health, personal and business problems and also had a poor financial situation. 

In handing out the accountant's exclusion and fines, the tribunal said: “While it is unusual to make an order for both exclusion and a fine, the tribunal considered these circumstances to be exceptional in that, because Mr Jenkins had resigned, the exclusion order was not an effective sanction.

"Nonetheless, it order his exclusion so as to maintain public confidence in ICAEW and the Guidance on Sentencing indicated that it was appropriate.”

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